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By Bernie Woodall and Steve Neavling DETROIT (Reuters) - Detroit said on Friday it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the "insolvent" city called on most of its creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy …

By Michelle Conlin and Peter Rudegeair (Reuters) - Six former Bank of America Corp employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about the status of their mortgage payments and documents. The bank allegedly used these tactics to shepherd homeowners into …

SAN FRANCISCO (Reuters) - Facebook Inc received between 9,000 and 10,000 requests for user data from various U.S. government entities in 2012's second half, involving 18,000 to 19,000 of its users' accounts, the world's largest social network said in a Friday blogpost. The company said it released the information after …

LONDON/DHAKA (Reuters) - Tesco, the world's No. 3 retailer, has stopped sourcing clothes from a factory in Bangladesh after discovering serious problems with the safety of the site, the company said on Saturday. The move follows a survey the British-based supermarket chain conducted in the wake of the collapse of the Rana …

By Emily Stephenson and Douwe Miedema WASHINGTON (Reuters) - A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios. "It's horrible, I mean they're horribly undercapitalized," said Federal Deposit Insurance …

By Rodrigo Campos NEW YORK (Reuters) - Stocks fell on Friday on low volume to end their third negative week in four on lingering concern over whether the world's central banks will soon start to trim their stimulus programs. Uncertainty about the longevity of loose monetary policy around the world has caused volatility …

By Caroline Valetkevitch NEW YORK (Reuters) - Stock investors eager to hear from the Federal Reserve about its plans for continuing economic stimulus may get some soothing words from the U.S. central bank next week. The Fed is unlikely to tip its hand about when it may begin to scale back its bond-buying program, but policymakers …

By Lefteris Papadimas ATHENS (Reuters) - Greek Prime Minister Antonis Samaras offered on Friday to hire a small number of workers to resume public broadcasts to stem an outcry over the shock closure of state broadcaster ERT and mend a rift in the ruling coalition. The proposal was dismissed as inadequate by one coalition …

By Philip Blenkinsop and Robin Emmott LUXEMBOURG (Reuters) - France cleared the European Union to launch free-trade talks with the United States on Friday after fellow EU members accepted its demand to shield movies and online entertainment from the might of Hollywood and Silicon Valley. After 12 hours of talks, EU officials …

TOKYO (Reuters) - The Bank of Japan will likely expand its purchase of Japanese real estate investment trusts (J-REITs) beyond its buying scheme announced earlier this year as part of the central bank's hyper easing steps, the Nikkei business daily said on Saturday. The BOJ said in April that it would boost the balance …

TOKYO (Reuters) - Mitsubishi Motors Corp is considering boosting output capacity in Indonesia and possibly building a new plant there to capitalize on brisk demand in emerging Asian economies. "It is true that we are considering strengthening our operations in Indonesia, but nothing has been decided as of now," a company …

By Joe Bavier ABIDJAN (Reuters) - Top producer Ivory Coast will offer a temporary refund on mid-crop cocoa in a bid to stimulate purchasing that has been hampered by small bean size, the country's marketing board, the CCC, announced in a statement posted on its website. Ivory Coast forward sold the bulk of the anticipated …

JOHANNESBURG (Reuters) - Anglo American Platinum said on Saturday operations at its Thembelani mine in South Africa were back to normal after a "group of employees" on Friday prevented 2,400 workers from going above ground. "The situation at the mine is normal, people came above ground yesterday evening," Amplats spokeswoman …

By Martin Dokoupil and Stanley Carvalho ABU DHABI (Reuters) - Egypt's government is in the late stages of verifying its economic reform programme with the International Monetary Fund before obtaining a $4.8 billion IMF loan, its central bank governor said on Saturday. The loan, needed to help stabilise Egypt's balance of …

LONDON (Reuters) - Britain's Prime Minister David Cameron will press its overseas tax havens to sign up to an international transparency treaty in London on Saturday, hoping to bolster British credibility ahead of next week's G8 summit. Britain is looking to ensure its self-governing regions, some of which are world-leading …

MADRID (Reuters) - Spanish Prime Minister Mariano Rajoy on Saturday called on the European Central Bank to create a cheap funding scheme for small businesses, mirroring those used by authorities outside the euro zone to try and get credit flowing via banks. Rajoy, who has previously urged the ECB to change its collateral …

By Olivia Oran and Soyoung Kim NEW YORK (Reuters) - Private equity firm Hellman & Friedman LLC is planning an initial public offering for Associated Materials, a maker of home-building products that it bought for $1.3 billion in 2010, two people familiar with the matter said on Friday. Associated Materials, a maker of products …

Exclusive: Deutsche Bank 'horribly undercapitalized' - U.S. regulator WASHINGTON (Reuters) - A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios. "It's horrible, I mean they're horribly undercapitalized," …